‘Innovation Factory’ launched by Nasscom to encourage AI in Agriculture

Together with the Telangana Artificial Intelligence Mission (T-AIM), the National Association of Software and Services Companies (Nasscom) has started an Innovation Factory to find and encourage emerging artificial intelligence technologies to solve problems in the agricultural sector. 

For start-ups, they have launched an 'innovation contest' inviting innovations that will make farmers' life simpler by helping them raise incomes. 

The winner will have a chance to win ₹1 lakh of bonus money, while the runner-up will get  Rs. 50,000. 

The Nasscom challenge will concentrate on precision farming to increase yields; real-time price discovery and volume management; agri-product e-marketplaces; and agricultural lending instruments focused on credit risk evaluation based on farm production. 

A Nasscom spokesperson said that innovators will now be able to demonstrate their AI solution production skills on a broader scale and use the ability to introduce a pilot in Telangana. 

The participants will receive mentorship from different government institutions and ecosystem stakeholders in Telangana. 

The market is open to start-ups, enterprises and organizations active in the region. Six weeks will be given to each team to focus on the case for use. January 24 is the last day to apply for the challenge. On March 30, the findings will be out.